Economic news shows slowdown

As the Reserve Bank Board sits down to consider interest rates today, there are signs the Australian economy is slowing. Business confidence has fallen to its lowest level since 1994 when the Commonwealth Bank and Chamber of Commerce and Industry began their survey.

As well, the credit reference agency Dun and Bradstreet is foreshadowing a steep decline in sales, profits, jobs growth as well as capital investment. That's prompted calls for there to be a cut in official interest rates. If it happens it would be the first reduction in seven years.